Eni received formal consent from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for the sale of Nigerian Agip Oil Co. (NAOC) Ltd. to Oando Plc.
Having already obtained all other relevant local and regulatory authorities’ authorizations, the consent allows Eni to proceed to the completion of the deal, the company said in a release July 24.
In September 2023, Eni agreed to sell NAOC, its wholly owned subsidiary focusing on onshore oil and gas exploration and production as well as power generation in Nigeria, to Oando (OGJ Online, Sept. 8, 2023).
NAOC Ltd. participating interest in the Shell Production Development Company Joint Venture (SPDC JV) is not included in the sale and will be retained in Eni’s portfolio.
Map from Kinder Morgan.
Photo from Imperial Oil Ltd.
